6 months agoMy take: His new $140 price target (up from $120) has the virtue of being above water.
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I wouldn’t be surprised to see an AAPL pullback from this level, and wouldn’t be unhappy as long as AAPL didn’t retreat more than $6.50 ($28 pre-split) by Friday Close.
Also, we are in strange times where stock prices seem uncoupled somewhat from company performance. Katy Huberty seemed to have a good insight in looking at the free cash flow as a company metric. In this time of uncertainty Apple is a safe harbor. It is a rock solid business which is well run. It has a billion or so customers who spend a consistent amount on Apple products every year.
Interestingly enough, I just heard from an investment guy today that I should diversify out of Apple. I don’t think it had anything to do with Apple, this is just their training.